Price lower fuels resentment amongst petroleum sellers

By Express News Service

SAMBALPUR:  The sudden drop in gasoline costs has not gone down properly with the members of Sambalpur Petroleum Dealers’ Association who’re gazing large losses as a result of transfer. In a press meet held right here on Tuesday, the affiliation members alleged that such a drastic lower in gasoline costs at one go is a violation of the day by day pricing mechanism (DPM) and sought compensation from oil corporations for the loss incurred as a result of Central authorities’s determination to chop excise obligation on petrol and diesel. 

The discount in gasoline costs is certainly a aid for the general public however it has badly hit the petroleum sellers, mentioned affiliation advisor Ashok Kumar Kedi. “While the price cut decision was announced suddenly without any prior notice, dealers had already bought stock from oil companies at previous rates. The reduction of Rs 9.50 per litre of petrol and Rs 7 per litre of diesel is quite significant and has caused heavy losses to the petroleum dealers,” he mentioned.

Kedi additional mentioned there are round 180 gasoline stations within the district and every pump has incurred a lack of round Rs 5 lakh to Rs 6 lakh as a result of sudden drop in costs. The affiliation alleged that the Centre’s transfer is a transparent violation of the DPM. As per the mechanism which was launched in 2017, the worth needs to be lower and hiked marginally every day. But on this case, the worth was constantly elevated marginally over a time period however diminished out of the blue.

In the prevailing scenario, the affiliation mentioned the fee for sellers needs to be elevated. Currently, sellers are getting a fee of Rs 3.39 on per litre of petrol and Rs 2.13 on diesel. The affiliation members urged the federal government to extend the fee to five per cent.